The employee benefits and actuarial consultancy Broadstone has announced that it is launching a specialist admin service to help schemes prepare for buyout.
Buyout is becoming an increasingly popular choice for defined benefit schemes as they enter their end games, but it is a notoriously difficult process to manage well and get right. The launch comes as competition to secure buyout from insurers intensifies following the LDI crisis last autumn and recent improvements in scheme funding positions.
Broadstone says that its new service will help schemes throughout the transaction journey from data-cleanse to finalisation, and is suitable for schemes of all shapes and sizes.
Gavin Giles, head of pensions administration at Broadstone said: “The journey to end-game is a priority for many pension schemes following the uplift in funding levels of the past 18 months.
"However, competition is red-hot and so schemes, particularly those at the smaller end of the market, need to ensure that they are thoroughly prepared ahead of starting to engage with insurers.”
